A Study Of Agent-Construction System In Government-Invested Projects Based Upon Project Governance Theory And Principal-Agent Theory

Since from reforming and open up, each year, there was a substantial increase in permanent assets in our country. But our management mode of building can't keep up with the advanced management level of the world. The construction management modes which have been performed have a lot of malady. Especially for government-invested projects, the phenomenon of "three outracing" appears unseldom, which damage the interests of our country tremendously. Facing that, on Oct 2004, the State Council promulgated the "decision on the reform of investment system," clearly stating "to expedite the implementation of agent-construction system for the non-operating government-invested projects".Through the comparing with the management mode to the developed governments of countries and regions, combining the experience and lesson which some provinces of our country had obtained in their attempts of agent-construction system, this paper sum up the management mode of project invested to construct of government suitable for choosing. After defining what is agent-construction system and how does it bring into effect, basing on corporation governance theory, the author deeply study what is the core of the project governance at first, and furthermore, analyze the governance mode of the government-invested projects, then bring forward some measure of the project inner governance and external governance. In next chapter, the author describe a kind of agency by agreement under the asymmetrical information condition models. Through the optimum analysis of the models, it is found that how to design optimum incentive contract for agent-construction corporation. At last, the author advise to resolve some important problems, such as found qualification management system for agent-construction corporation, establish law status of construction-agent corporation, and import competition mechanism, etc.